Muganga SACCO


An Overdraft is a lending arrangement which allows members to get small amount of money equivalent to their monthly net salaries but not exceeding 2 millions and being repaid in short term, not over 3 months. It may be also an additional facility to non-salary earners which allow them to cover normal operational costs; and it is disbursed based on their repayment capacity and security offered.  

Targeted Members

  • Individual employed members working in the health sector in Rwanda (public and private);

  • Self-employed members of MUGANGA SACCO, Cooperatives, association, companies of members operating small scale businesses.


  • Quick loans, rapid and flexible to access (not exceeding 2 days);
  • Financial facility to overcome liquidity problems;
  • Turnaround time of 2 days;
  • Allow the employee to easily get their full salary before it is credited to their account;
  • Allow non-employees (Non-salaried with projects to quickly obtain cash funds to cover normal short-term operational costs.

Eligibility Criteria

  • Being a member of Muganga SACCO for at least 1 month;
  • Regular compulsory savings;
  • Being registered in Muganga SACCO Mobile Banking;
  • The salary to be channeled at Muganga SACCO for at least 3 months;
  • Having paid membership fees in full (Frw 50,000 of share capital)
  • Have an employment contract (not in probation);
  • Having 18 years old (Minimum);
  • Having regular income for self-employed (Business, Rental, livestock, etc…….) and be channeled to Muganga SACCO at least 3 Months;
  • Must not have loans in arrears in MUGANGA SACCO or any other financial institution in Rwanda (blacklisted by Credit Reference Bureau/Transunion).

Products Features

  • Maximum amount is Frw 2,000,000;
  • Repayment term is 3 months (Max);
  • Interest rate is 3% per month (declining)
  • Repayment capacity is 50% of the monthly net salary. If combined with other commitments, it cannot exceed 75% of the net salary;
  • Repayment is monthly (Capital + interest);
  • Turnaround time (TAT): 1 day.


  • Fulfil and Sign Overdraft Loan application and loan agreement form;
  • Copy of Identity card/Passport 
  • Salary certificate and employer engagement (found at our website);
  • Loan commitment form;
  • Subcommittee recommendation letter;
  • Employment contract or appointment letter;
  • Proof of income for self-employed members (proof of financial needs);
  • Account statement of other for at least 12 Months for self-employed members;
  • Tangible collateral of compulsory savings for self-employed members;
  • Any other document requested by credit department to support member’s request;